Q4 FY24 Earnings Season

Varun Beverages delivered a strong CY2024 with consolidated revenue of ₹20,007 crore (+24.7% YoY) and EBITDA of ₹4,711 crore (+30.5% YoY), driven by 23.2% volume growth includin...

ABB India delivered a strong Q4 2024 with revenue up 22% YoY and PAT up 54% YoY, driven by robust execution across all 18 divisions.

Aurobindo Pharma delivered a strong Q4 FY24 with revenue of INR 7,850 crore (+17% YoY) and EBITDA of INR 1,687 crore (+68% YoY), driven by volume gains, new product launches, st...

Tata Steel's Q4 FY24 consolidated revenue stood at INR 58,687 crore with EBITDA of INR 6,631 crore, translating to a 12% margin (up 200 bps QoQ excluding FX).

Power Grid reported Q4 FY24 standalone revenue of INR 12,254 crore and PAT of INR 4,128 crore, with a slight dip versus last year due to one-time tariff arrears in Q4 FY23.

ONGC reported a standalone PAT of ₹9,869 crore in Q4 FY24, a sharp increase from ₹528 crore in Q4 FY23, driven by a low base due to prior exceptional items and higher other income.

Colgate delivered a strong Q4 with 10.7% domestic revenue growth and record EBITDA margins of 35.9%, expanding 250 bps YoY.

M&M delivered a strong FY24 with standalone PAT up 48% YoY (64% excluding one-offs) and consolidated PAT up 25%, driven by auto (PAT up 2.5x to INR 4,700 crore) and resilient fa...

Aditya Birla Capital delivered a strong Q4 FY24 with consolidated PAT up 41% YoY to INR 2,902 crore and revenue up 30% to INR 39,050 crore.

ABFRL reported Q4 FY24 consolidated revenue of INR 3,407 crore, up 18% YoY, driven by new businesses (Ethnic, TMRW, Reebok).

AIA Engineering reported a flat Q4 FY24 with revenue of INR 1,130 crore and EBITDA margin of 32.57%, while full-year EBITDA hit a record INR 1,616 crore at 33.31% margin.

Alkem Laboratories reported Q4 FY24 PAT of INR 294 crore, impacted by a deferred tax derecognition of INR 120 crore.

APAR Industries reported Q4 FY24 consolidated revenue of INR 4,455 crore (+9% YoY) and EBITDA of INR 457 crore (+3% YoY), with margins contracting 60bps to 10.3% due to weaker e...

Ashok Leyland reported record FY24 results with EBITDA of INR 4,607 crore (up 57% YoY) and PAT of INR 2,618 crore, driven by material cost savings (down 4.4% as % of revenue), f...

Astral reported a strong year with piping volume growth of ~23% and adhesive India revenue of INR 960 crore at 15.7% EBITDA margin.

BPCL reported Q4 FY24 revenue of INR 132,085 crore and PAT of INR 4,224 crore, contributing to a record full-year net profit of INR 26,674 crore.

Biocon's Q4 FY24 group revenue from operations grew 4% YoY to INR 3,917 crore, with core EBITDA margin of 30%.

Coromandel's Q4 FY24 consolidated revenue declined 28% YoY to INR 3,996 crore, driven by lower subsidy rates and raw material prices, though EBITDA rose 34% to INR 273 crore wit...

Dixon Technologies delivered a strong Q4 FY24 with consolidated revenue of ₹4,675 crore (+52% YoY) and PAT of ₹97 crore (+20% YoY).

DLF reported a strong Q4 FY24 with consolidated PAT of INR 900 crore and full-year PAT of INR 2,700 crore.

Grasim reported its highest-ever consolidated revenue of INR 1,30,978 crore and EBITDA of INR 20,837 crore for FY24, driven by record volumes in cement, cellulosic fiber, and ca...

Hindalco reported a strong Q4 FY24 with consolidated EBITDA up 24% YoY to INR 7,200 crore and PAT up 32% YoY to INR 3,174 crore.

NTPC reported a solid FY24 with standalone PAT of INR 18,079 crores (+5% YoY) and group PAT of INR 21,332 crores (+25% YoY), driven by higher generation (422 BU, +6% YoY) and st...

Sun Pharma reported Q4 FY24 consolidated revenue of INR 11,813 crore, up 10.1% YoY, driven by strong specialty sales (Ilumya up 21.7% to $580M globally) and India formulation gr...

Adani Enterprises reported a strong FY24 with consolidated EBITDA up 32% to INR 13,237 crore, driven by incubating businesses (ANIL, airports, roads) now contributing 45% of EBI...

Ajanta Pharma delivered a strong Q4 FY24 with revenue of INR 1,054 crore (+20% YoY), EBITDA of INR 278 crore (+86% YoY), and PAT of INR 203 crore (+66% YoY).

Apollo Hospitals reported a strong Q4 FY24 with consolidated revenue of INR 4,944 crore (up 15% YoY) and EBITDA of INR 641 crore (up 31% YoY).

Bharti Airtel delivered a solid Q4 FY24 with consolidated revenue of ~INR 37,600 crore, impacted by Naira devaluation.

Hero MotoCorp reported a strong Q4 FY24 with revenue of INR 9,519 crore (+15% YoY) and PAT of INR 1,016 crore (+18% YoY).

Titan reported standalone revenue growth of ~17% YoY for Q4 FY24, with jewelry margins under pressure due to elevated gold prices and competitive intensity.

Eicher Motors delivered a stellar Q4 FY24, with consolidated revenue of ₹4,256 crore (+12% YoY) and EBITDA of ₹729 crore (+21% YoY), driven by record Royal Enfield volumes of 91...

Asian Paints reported Q4 FY24 standalone revenue decline of 1.8% YoY due to a 3.7% price cut, but volume growth remained strong at double digits (~10%).

Berger Paints reported a mixed Q4 FY24 with 13.9% volume growth but only 2.7% value growth, driven by price cuts (~5%), destocking in luxury paints, and a mix shift toward high-...

Britannia reported Q4 FY24 revenue of INR 4,014 crore, up 3% YoY, with EBITDA margin at 17.6%, down 4% YoY due to pricing actions and higher A&P spend.

Cipla reported Q4 FY24 revenue of INR 6,163 crore, up 10% YoY, with EBITDA margin expanding 95 bps to 21.4%.

Kalyan Jewellers reported a strong Q4 FY24 with consolidated revenue of INR 4,535 crore (+34% YoY) and PAT of INR 137 crore (+96% YoY, adjusted +34%).

Tata Motors delivered a strong Q4 FY24 with consolidated revenue of INR 1,20,000 crore, up 13.3% YoY, driven by volume and mix improvements across all businesses.

SBI delivered a strong Q4 FY24 with robust asset quality and capital position.

Dabur's Q4 FY24 consolidated revenue grew 5.1% INR (7.3% constant currency), with India business volume growth of 4.2%.

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L&T reported a robust Q4 FY24 with group revenues up 15% YoY to INR 67,100 crore and recurring PAT up 8% YoY to INR 4,300 crore.

HUL reported a resilient Q4 FY24 with underlying volume growth of 2% and sales growth of 1%, amid gradual demand recovery.

Adani Green Energy reported a strong Q4 FY24 with revenue from power supply up 33% YoY to INR 7,735 crore and EBITDA up 30% to INR 7,222 crore, maintaining an industry-leading E...

AU Small Finance Bank reported a strong Q4 FY24 with gross loan portfolio growth of 28% YoY to ~INR 82,000 crore and deposit growth of 26% YoY crossing INR 87,000 crore.

Bajaj Finserv reported a strong Q4 FY24 with consolidated total income up 36% YoY to INR 32,042 crore and PAT up 20% to INR 2,119 crore.

Canara Bank reported a strong Q4 FY24 with net profit at an all-time high of INR 3,757 crore, up 18.33% YoY, driven by NII growth of 11.18% and improved asset quality (GNPA down...

IEX reported a solid Q4 FY24 with consolidated revenue of INR 149.3 crore (+15% YoY) and PAT of INR 96.7 crore (+9.5% YoY), driven by 30.1 BU electricity volume (+15.7% YoY) and...

KFin Technologies delivered a strong Q4 FY24 with revenue growth of 24.7% YoY, EBITDA margin expansion of 238 bps to 45.8%, and PAT growth of 25.7% YoY to ₹246 crore.

SBI Life delivered a strong FY24 with new business premium growing 29% to INR 382.4 billion, maintaining private market leadership at 24.6% share.

Tata Consumer Products reported a solid Q4 FY24 with consolidated revenue up 9% YoY to INR 3,927 crore, driven by India Foods (up 20% including Capital Foods) and International...

Tech Mahindra reported Q4 FY24 revenue of INR 12,871 crore, down 6.4% YoY in constant currency, with EBIT margin of 7.4% (up 200bps QoQ).

UltraTech delivered 13% volume growth in FY24, with Q4 volumes up 30% QoQ and 11% YoY, driven by strong demand across segments.

ICICI Bank reported a strong Q4 FY24 with PAT growing 17.4% YoY to INR 107.08 billion, driven by robust core operating profit growth of 10.5% YoY and controlled provisions.

Kotak Mahindra Bank reported consolidated PAT of INR 5,337 crore for Q4 FY24, up 17% YoY, with full-year PAT of INR 18,213 crore, up 22% YoY.

Bandhan Bank reported a Q4 FY24 PAT of ₹55 crore, sharply down due to a ₹3,852 crore technical write-off on legacy microfinance loans, primarily from pre-2022 vintages.

Bosch Limited reported Q4 FY24 revenue of INR 4,423 crore, up 4.2% YoY, with EBITDA margin improving 30 bps to 13.2%.

CDSL reported a stellar Q4 FY24 with consolidated net profit surging 105% YoY to INR 129 crore on total income of INR 267 crore (+86% YoY).

JSW Steel reported Q4 FY24 consolidated revenue of INR 46,269 crore, up 10% YoY, with EBITDA of INR 6,124 crore (margin 13.2%) and PAT of INR 1,322 crore.

Maruti Suzuki reported a strong Q4 FY24 with net sales of INR 36,698 crore (+19.1% YoY) and net profit of INR 3,878 crore (+47.8% YoY), driven by record volumes of 584,031 vehic...

Adani Ports delivered a strong FY24 with revenue of INR 26,711 crore (+28% YoY) and PAT of INR 8,104 crore (+50% YoY), driven by cargo volume growth of 24% to 420 MMT.

Bajaj Finance reported a solid Q4 FY24 with AUM growth of 34% to INR 3,30,600 crore and PAT of INR 3,825.8 crore, up 21% YoY.

Coforge reported a strong Q4 FY24 with PAT up 94.8% YoY to INR 2,237 million, driven by robust order intake of $774 million and a record executable order book of $1.02 billion.

Federal Bank reported a strong Q4 FY24 with net profit of INR 906 crore, though this included a one-off pension impact of ~INR 160 crore.

Axis Bank delivered a strong Q4 FY24 with consolidated PAT of INR 24,861 crore, up 160% YoY, driven by robust NII growth of 16% YoY and fee income growth of 28% YoY.

Reliance Industries reported a strong FY24 with consolidated EBITDA of INR 79,000 crore (up 16% YoY) and PAT of INR 79,000 crore (up 7.3%).

HDFC Bank's Q4 FY24 results reflect a period of transition post-merger, with management emphasizing stability in core metrics and a focus on sustainable deposit franchise growth.

Wipro reported Q4 FY24 IT services revenue of $2.617-2.670 billion (guidance range), with sequential growth of 0.1% in reported currency and -0.3% in constant currency.

Bajaj Auto delivered a strong Q4 FY24 with revenue of ₹11,500 crore (+29% YoY), EBITDA of ₹2,307 crore (+34% YoY), and PAT of ₹1,936 crore (+35% YoY), driven by domestic market...

Infosys reported Q4 FY24 revenue flat YoY in constant currency, with operating margin at 20.1% (down 40bps QoQ) due to a one-time ~100bps impact from a financial services contra...

HCLTech reported FY24 revenue growth of 5% YoY in constant currency, with services growing 5.4% and software at 2.3%.

TCS reported Q4 FY24 revenue of INR 61,237 crore, up 3.5% YoY in rupee terms, with operating margin expanding 100 bps sequentially to 26%, the highest in 12 quarters.